Penalties are increasing
Here we are good old Labour. I thought after 13 years of Labour rule they were getting rid of the red tape but there we are. All the penalties are increasing across the board from Companies House to HMRC. Sooner or later there will be no need for enquiries because the penalties will take care of whatever monies are outstanding.
The penalties for late filing at Companies House are now as follows:-
|
Not more than 1 month
|
£150
|
|
More than 1 month but no more than 3 months
|
£375
|
|
More than 3 months but no more than 6 months
|
£750
|
|
More than 6 months
|
£1500
|
HMRC new PAYE penalty for late payments are as follows:-
Number of Times Payments are Late in a Tax Year
|
Penalty Percentage
|
|
1
|
No Penalty
|
|
2 – 4
|
1%
|
|
5 – 7
|
2%
|
|
8 – 10
|
3%
|
|
11 or more
|
4%
|
Penalties for all Tax Returns are as follows:-
Minimum
|
Maximum
|
|
|
Reasonable Care
|
No Penalty
|
No Penalty
|
|
Careless Unprompted
|
0%
|
30%
|
|
Careless Prompted
|
15%
|
30%
|
|
Deliberate Unprompted
|
20%
|
70%
|
|
Deliberate Prompted
|
35%
|
70%
|
|
Deliberate and Concealed Unprompted
|
30%
|
100%
|
|
Deliberate and Concealed Prompted
|
50%
|
100%
|
REMEMBER IF YOU GET ENQUIRIES YOU NEED A STRONG TEAM TO FIGHT YOUR CASE
Call KinsellaTax NOW on 0800 471 4546 for expert advice and professional representation. Don’t delay, call today
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